After a long career at Barron's, I joined Forbes as San Francisco bureau chief in December 2010. I've been writing about technology and investing for more than 25 years. With the Tech Trade, I've picked up where I left off when I was writing the Tech Trader Daily blog at Barrons.com. When I'm not working, you can find me riding my road bike around the Bay Area hills, managing my fantasy baseball team, rooting for my beloved Phillies and Eagles and hanging out in the Valley with my family. You can follow me on Facebook, on Twitter (@savitz), and on Google+.

For the fourth quarter, iRobot posted revenue of $130.8 million, up from $114 million a year ago, but below the Street at $134.1 million. Profits of 38 cents a share topped the Street consensus at 32 cents.

CEO Colin Angle noted that the company feels good about its home robot business for 2012, but added that iRobot expects a decline in the top- and bottom-line for its government and industrial robot sector due to “limited visibility” in the company’s defense business.

The company added that it expects continued demand from the military for its products will drive higher revenue in the 2012 second half.

For Q1, the company sees revenue of $90 million to $100 million and EPS ranging from a loss of 8 cents to break-even; the Street has been projecting $120.6 million and 30 cents.

For the full year, iRobot sees revenue to $465 million to $485 million, and profits of 75-95 cents a share, well below the previous Street consensus of $529.3 million and $1.45.

In short, it would appear that the company has been hurt by peace breaking out in Iraq.

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